Oyo Approves N3b For Cocoa Rejuvenation
The Oyo State Government has approved a sum of ₦3,030,292,472 for the establishment of Cocoa Rejuvenation Project.
According to a statement signed by the Commissioner for Information, Prince Dotun Oyelade, the State Executive Council has approved the move to restore the glory of cocoa production as one of the state’s major economic pillars.
The project, which will be driven through a Public-Private Partnership (PPP), will be coordinated by the Oyo State Agribusiness Development Agency (OYSADA) and the International Institute of Tropical Agriculture (IITA).
The Commissioner explained that the state government is taking this initiative because Oyo State ranks fourth among the 18 cocoa-producing states in Nigeria in cocoa production.
He said, “The state is also being proactive by seizing the opportunity created by disruptions in cocoa production in major producing countries like Ghana and Côte d’Ivoire.”
“It is the intention of Oyo State to fill the supply void as a result of the production problems facing the West African countries.”
“The Cocoa Rejuvenation Project, which costs $2,075,547, will be funded in three tranches over the next three years.”
The Council also backs the South West Governors’ call for State Police and observed that the lack of enthusiasm among our youths to join the military makes the domestication of local policing more urgent.
The Council lauded the foresight of Governor Seyi Makinde in procuring two surveillance aircraft for the State security apparatus to track and monitor movements in dangerous areas, and the continued support for Amotekun, which has made it the best-staffed and equipped in the South West.
Also, the Council approved €50 million for the Oyo State Health Care Initiative. This loan from the French Government, initiated by Oyo State about three years ago, was finally approved by the Federal Ministry of Finance in a letter dated November 10, 2025.
He explained that the loan, intended for infrastructural upgrades and equipping state hospitals, among other purposes, has also been approved by the State House of Assembly to enable the state government to access the funds.
Prince Oyelade said that the Oyo State Water, Sanitation and Hygiene (WASH) Policy was also approved by the council.
This approval, according to him, will unlock financial opportunities and allow the state to access funds from the Federal Government, the World Bank, the African Development Bank, and other international partners. He added that the objective of the fund is to eliminate open defecation, achieve universal access to safely managed sanitation, and integrate hygiene promotion into communities.
The Commissioner said that the Council, at its meeting on Tuesday, also approved the establishment of the Oyo State Climate Action Plans and Policies, which will allow for the engagement of a Green Energy Agency.
He said that the approval authorises the engagement of a Green Energy Agency to implement the policies, backed by a ₦270 million guarantee from a reputable bank.
The Council further approved the Business Enabling Reforms Action Plan for 2026, a mandatory requirement for state participation in the State Action on Business Enabling Reforms (SABER).
Oyelade said that, to meet the eligibility criteria, the council approved the sum of ₦400 million as the cost of implementation.
